Skye acquires Bird Rock Bio, weeks after Novo Nordisk says it will buy a CB1 developer

Skye Bio­science ac­quired Bird Rock Bio to get its hands on an as­set tar­get­ing CB1 just two weeks af­ter No­vo Nordisk dipped its toes in­to the once-hot space to buy In­ver­sa­go Phar­ma, an­oth­er de­vel­op­er of CB1 ther­a­pies.

The San Diego biotech said Mon­day morn­ing it ac­quired Bird Rock’s out­stand­ing stock for to­tal con­sid­er­a­tion of about $20 mil­lion. Bird Rock, a Ver­sant Ven­tures- and 5AM-backed start­up, had said lit­tle in the three years since an­nounc­ing a Phase II IND ap­pli­ca­tion for its CB1 an­ti­body ni­macimab for var­i­ous re­nal dis­eases.

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